Government encourages employers to take up Covid Wage Subsidy Scheme
The Minister for Finance and Public Expenditure and Reform has encouraged employers whose businesses have been impacted by Covid-19 to engage with the Temporary Covid-19 Wage Subsidy Scheme.
Mr Donohoe said the scheme is the most effective way of retaining the link with employees, who can then resume employment once the crisis has passed.
He said this will give the economy, and society, the greatest chance of rebounding when the time comes.
As of 8pm last night, 35,830 employers had registered with Revenue for the Wage Subsidy Scheme. This is up 10,106 since 8pm on Monday.
The Minister said that the Covid-19 Wage Subsidy Scheme has been made available by Government to give companies the best chance of survival through the retention of valuable staff.
It will also put them in the strongest position to re-open or reboot the business without delay in the months ahead, he added.
He also stressed that the scheme is not a declaration of insolvency, as some have suggested.
"These points have been clarified by the Revenue Commissioner but are worth restating," he added.
He also said that companies who have cash in reserve, and who have been hit by a decline in business, can also still qualify for the scheme.